Pandora Completes Sale Of $345 Million In Notes
December 10, 2015 at 4:04 AM (PT)
PANDORA MEDIA, INC. has completed an unregistered offering of $345 million aggregate principal amount of its 1.75% Convertible Senior Notes due 2020. $45 million of the notes were sold under an option to the initial purchaser exercised on DECEMBER 4th.
Net proceeds from the sale totaled about $336.7 million after buyers' fees and expenses, and $43.1 million was used to pay the cost of separate Capped Call Transactions with MORGAN STANLEY and JP MORGAN CHASE, with the rest for general corporate purposes.